SPDR S&P Bank ETF (NYSEARCA:KBE) Sets New 1-Year High – Time to Buy?

SPDR S&P Bank ETF (NYSEARCA:KBE) reached a new 52-week high on Tuesday . The stock traded as high as $55.08 and last traded at $55.07, with a volume of 279144 shares trading hands. The stock had previously closed at $54.59.

SPDR S&P Bank ETF Trading Up 1.4 %

The stock has a market capitalization of $1.64 billion, a PE ratio of 7.86 and a beta of 1.42. The stock has a 50 day moving average price of $52.20 and a 200-day moving average price of $48.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of KBE. Centaurus Financial Inc. purchased a new stake in SPDR S&P Bank ETF during the fourth quarter valued at approximately $141,000. Calton & Associates Inc. lifted its position in shares of SPDR S&P Bank ETF by 20.3% in the first quarter. Calton & Associates Inc. now owns 13,188 shares of the exchange traded fund’s stock valued at $621,000 after acquiring an additional 2,221 shares in the last quarter. Advisor Resource Council purchased a new position in SPDR S&P Bank ETF in the 1st quarter worth approximately $227,000. Commonwealth Equity Services LLC boosted its position in shares of SPDR S&P Bank ETF by 8.2% during the first quarter. Commonwealth Equity Services LLC now owns 28,495 shares of the exchange traded fund’s stock worth $1,342,000 after acquiring an additional 2,156 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of SPDR S&P Bank ETF by 546.0% during the 1st quarter. BNP Paribas Financial Markets now owns 166,353 shares of the exchange traded fund’s stock valued at $7,835,000 after purchasing an additional 140,601 shares during the last quarter.

SPDR S&P Bank ETF Company Profile

SPDR KBW Bank ETF, formerly The SPDR S&P Bank ETF (the Fund), seeks to closely match the returns and characteristics of the S&P Banks Select Industry Index. The S&P Banks Select Industry Index is a float adjusted modified-market, capitalization-weighted index that seeks to reflect the performance of publicly traded companies that do business as banks or thrifts.